CISRSS

MTS expands retail presence through acquisition

MTS, the largest mobile operator in Russia and the CIS has bought high street retail chain Telefon.Ru outright for $60m. Telefon.Ru operates 512 stores in 160 Russian cities, selling airtime contracts, handsets and other consumer electronics. The $60m price tag includes $25m for inventory reserves, MTS said, and will be supplemented by a further $25m [...]